Description
⋅ Hello, welcome to this BTC /USD 1DAY chart update by CRYPTO SANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Bitcoin (BTC) dropped below the $21,000 mark on Thursday, as crypto markets fell following slowing U.S. retail sales figures.
The decline saw BTC/USD hit an intraday low of $20,541.54 earlier in today’s session, fresh from a four-month high of $21,564.50.
Since the sell-off, BTC now seems to be in search of a support point, with the $20,500 mark a likely candidate.
Looking at the chart, a drop was somewhat expected with the 14-day relative strength index (RSI) tracking near a two-year high in recent days.
As of writing, the index is at the 78.40 level, which is marginally above a floor at the 77.00 mark.
Should a move below this point take place, it is likely that BTC bears could push prices toward the $20,000 zone.
This is not a piece of financial advice.
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